Mutual of America Capital Management LLC raised its holdings in shares of ServiceNow, Inc. (NYSE:NOW – Get Rating) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,965 shares of the information technology services provider's stock after buying an additional 634 shares during the quarter. Mutual of America Capital Management LLC's holdings in ServiceNow were worth $10,560,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Tortoise Investment Management LLC grew its holdings in shares of ServiceNow by 55.0% in the second quarter. Tortoise Investment Management LLC now owns 62 shares of the information technology services provider's stock valued at $29,000 after purchasing an additional 22 shares during the period. Institute for Wealth Management LLC. increased its stake in ServiceNow by 0.7% in the second quarter. Institute for Wealth Management LLC. now owns 3,484 shares of the information technology services provider's stock valued at $1,657,000 after purchasing an additional 23 shares during the last quarter. HHM Wealth Advisors LLC grew its position in shares of ServiceNow by 21.8% during the second quarter. HHM Wealth Advisors LLC now owns 134 shares of the information technology services provider's stock worth $64,000 after acquiring an additional 24 shares during the last quarter. Tradition Wealth Management LLC grew its position in ServiceNow by 13.2% in the 2nd quarter. Tradition Wealth Management LLC now owns 214 shares of the information technology services provider's stock valued at $102,000 after buying an additional 25 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in ServiceNow by 1.1% in the 3rd quarter. Merit Financial Group LLC now owns 2,356 shares of the information technology services provider's stock valued at $890,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company's stock.
Get ServiceNow alerts:Analysts Set New Price Targets
Several brokerages recently weighed in on NOW. Guggenheim cut their target price on shares of ServiceNow to $500.00 in a research note on Thursday, October 27th. Cowen upped their target price on ServiceNow from $510.00 to $520.00 in a research report on Thursday, October 27th. Morgan Stanley increased their price target on ServiceNow from $520.00 to $612.00 and gave the stock an "overweight" rating in a research note on Monday, December 19th. Robert W. Baird decreased their target price on ServiceNow from $500.00 to $475.00 in a research note on Wednesday, December 21st. Finally, Oppenheimer upped their target price on ServiceNow from $450.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $517.47.
Insider Buying and Selling at ServiceNow
In other ServiceNow news, insider Lara Caimi sold 726 shares of the company's stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $416.03, for a total transaction of $302,037.78. Following the transaction, the insider now owns 43 shares in the company, valued at approximately $17,889.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul John Smith sold 2,301 shares of the stock in a transaction on Monday, January 30th. The shares were sold at an average price of $447.22, for a total value of $1,029,053.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lara Caimi sold 726 shares of the stock in a transaction on Friday, November 11th. The stock was sold at an average price of $416.03, for a total transaction of $302,037.78. Following the completion of the sale, the insider now owns 43 shares in the company, valued at approximately $17,889.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,960 shares of company stock worth $4,893,041. 0.28% of the stock is owned by corporate insiders.ServiceNow Stock Performance
ServiceNow stock traded up $13.85 during mid-day trading on Thursday, reaching $487.66. 295,579 shares of the company traded hands, compared to its average volume of 2,016,440. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.24. ServiceNow, Inc. has a fifty-two week low of $337.00 and a fifty-two week high of $621.41. The company has a market capitalization of $98.51 billion, a price-to-earnings ratio of 296.13, a price-to-earnings-growth ratio of 6.01 and a beta of 0.99. The firm's fifty day moving average is $405.30 and its two-hundred day moving average is $416.59.
About ServiceNow
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ServiceNow, Inc engages in the provision of enterprise cloud computing solutions. The firm delivers digital workflows on a single enterprise cloud platform called the Now Platform. Its product portfolio is focused on providing Information Technology, Employee and Customer workflows. It offers its solutions for the industries under the categories of government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil & gas, education, and consumer products.
Further Reading
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